Selling car on finance

Can you sell a car on PCP finance? You cannot sell a car with outstanding hire purchase (HP) finance, as the lender is the legal owner of the car until the finance is settled. To sell a car with outstanding HP finance, you’ll have to end your hire purchase agreement early. To do this, you’ll need to contact your finance company and ask them for a settlement figure.

If you want to get rid of your car on finance because you are struggling to keep up with payments, then your best option is to arrange a voluntary termination. If, however, you want to sell up and get a different vehicle, then you have two options.

First, you can settle up by contacting your finance provider and requesting a settlement valuation. Over 85% of cars bought in the UK are purchased using some kind of finance arrangement, be it PCP finance, HP or other lease agreement. The question is, can you sell a car that’s on finance ? The short answer is ‘yes’ and it’s simple to do so.

Hire Purchase (HP ) If you have a car on hire purchase (HP) finance, the lender remains the owner until the finance is settled or all payments have been made. Once you have obtained the settlement figure and paid it off, within a set period of time, the car will be yours to sell.

Also, you can settle up early and sell the car. You’ll first need to write to the finance company to provide a settlement figure. You can then pay the outstanding amount and the car is yours to sell. Once you’ve asked for the settlement figure they’ll get it to you within a few days.

After that, you’ll have a set period to pay it off. We Buy Cars with Outstanding Finance 1. Contact your lender.

You will need to contact your lender and advise them you are considering the sale of your. Book an Appointment. Whether you can sell a car with outstanding finance will depend upon your situation and the type of finance agreement that has been taken out, we have taken a look at the most popular types of car finance below.

If you are selling a car with finance still outstanding there are two things you must do before you can legally sell it: Inform the finance company and ask them for the “settlement figure” they’ll need from you to pay off your loan in full. We do this so that no matter who is selling the car, you have the option to look at a monthly finance option.

With hire purchase, it is the finance provider, rather than the dealer, who is legally responsible if there are problems with the car. Although you’ll be offered a trade to below-trade price for your car a car buying service is a simple way to sell a financed car. Selling Your Financed Vehicle. All car buyer’s services will know if a car has money outstanding.

You need to obtain your settle figure and letter and take it with you when selling your car. This means that if you have a car on finance and you wish to sell it, you need to ensure that the finance is settled first. Although it is illegal to sell a vehicle that you know is subject to a finance agreement, that doesn’t necessarily mean that you can go to prison for it.

The way an HP agreement works is that the car dealer invoices the finance company for the car. The finance company then pays the dealer for the car and the customer hires the car from the finance company until the very end of the agreement.

From Ford to Ferrari, you can compare prices for any used car. Car finance untangled. Every car buyer can clear your car finance to make the transaction simple.

Our TruePrice technology predicts what you’re likely to receive. We never charge car sellers a penny and there are zero obligations to sell. This is the key though, isn't it. Transparent pricing.

If you have an average, run of the mill motor and expecting a good private sale price you wont get a lot of interest when it has finance attached to it.